Daily Profit Compass Oct 12

Tickers discussed: SPY QQQ IWM  FATMAAN names, BIGC

The Daily Profit Compass provides a technical review of the stock market today. Key levels and trading locations for the indexes are provided, along with trading plans and timely commentary to keep you on the right side of the trade.

Earnings 

 

Companion Video 

  • The companion video provides the key actionable levels and trading plans for the indexes, FATMAAN names, and other charts of interest. Viewers are welcomed to run the video at 1.25x to reduce run time without loss of quality.

Trade Tracker

Open / Active Trades

Swing Trade Active Watch list

  • STLD, UBER, GIII, BURL, KWEB, TEAM
  • GLD / SLV / GDX
  • All of these were reviewed over the weekend. If you missed the video, find it HERE
  • I am looking to do something in Precious Metals / Mining today.

Intra-day Active Trader

  • FATMAAN names
  • BIGC – New name / recent IPO that has had a wild ride recently but now looks conducive to intra-day or fast Swings

INDEX CHARTS

SPY 2 Hour

Nice opportunity to raise stops and strikes this morning if long from lower levels. Prices above the trend line keep the chart bullish.  Stay long.

SPY 30 min

Around $349 / $350 I’d expect some backing and filling

QQQ 2 Hour

Pretty simple here. Prices above $280 are bullish.  Over head targets are $288 and $292.  Stay long against $285 and the trend line. Raise stops / Strikes to $285

QQQ 30 Min 

Clean trend line to follow

IWM 2 hour

The advance looks pretty steep and it’s doubtful the advance can proceed with out a period of backing and filling. A back touch of $160 would likely do the trick. If we got that pull back to support it would be a great entry location.  Long Term resistance is at $167.50.

 

IWM 30 Min

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